Which interest rate is higher for Huabei and borrowing in 2018? Comparison of interest between Huabei and borrowing
Ants pay interest
Users use Huabei to pay for items purchased on Taobao and repay before the 10th of the next month after confirmation of receipt. During this period, no interest will be charged to users. If the user fails to pay off the current payable amount before the repayment is due, a certain amount of overdue interest will be generated. The overdue interest is charged daily according to 0.05% of the current outstanding amount. For example, for example, the user has to pay 10000 yuan in May, but only 5000 yuan before May 10. When the user repays on May 14, the overdue interest will be 10 yuan, which is 5000 yuan & times; 0.05% & times; 4 days.
Ants borrow interest
The maximum loan period is 0.045 months. In other words, if you borrow 10000 yuan a year, the total principal and interest will be 11642.5 yuan. Compared with credit card, the interest is much cheaper, and the interest is higher than that of spending.
2% in three installments. The loan amount is 1000 yuan, which will be paid off in three installments with the same amount of repayment every month. The daily interest rate is 0.0003%. If you pay 1000 yuan in three installments, the total interest is 1000 & times; 2.5% = 25 yuan, and the interest of each installment is 25 & pie; 3 = 8.3 yuan. If the loan is 1000 yuan and repays in three installments, the total interest will be 18.34 yuan in three installments.
From the above, we can see that the total interest of installment of Huabei is higher than that of borrowing. There are two kinds of operations for repayment. In the first operation, 8.3 yuan of interest has been paid in the first period, and only 8.3 yuan of interest in the second period is required to be paid for the remaining two periods in advance. Therefore, Huabei paid off the arrears one month in advance, and only charged 16.6 yuan for two months. For the second operation, if the service charge is not reduced, it will still generate a service charge of 25 yuan. For prepayment, the interest is only charged for the actual days of use. The interest formula is the loan amount * actual loan days * daily interest rate is less than 18.34 yuan.
Reminder: interest should be charged for the transfer after the overdue payment. If the current payable amount is not paid off before the repayment date, the corresponding overdue interest will be generated, and the overdue interest will be charged by 0.05% of the current outstanding amount on a daily basis.
For example, you have to pay back 10000 yuan in April, but only 5000 yuan was paid before April 10. When you repay on April 14, the overdue interest will be 10 yuan (formula: 5000 yuan & times; 0.05% & times; 4 days). If the ant borrows money overdue, the penalty interest will be charged at 1.5 times of the original interest. Therefore, if the loan is overdue, it is not only necessary to continue to charge interest on a daily basis, but also to charge a penalty interest of 1.5 times per day. If the overdue loan is to be restored, the principal and handling fee should be paid together. Calculation formula of overdue interest: overdue interest = overdue amount * overdue days * interest * 1.5.